Zacks Investment Research upgraded shares of Washington Real Estate Investment Trust (NYSE:WRE) from a hold rating to a buy rating in a research note released on Thursday morning. The brokerage currently has $33.00 price objective on the real estate investment trust’s stock.

According to Zacks, “WASHINGTON R.E. INV. TRUST is a self-administered qualified equity real estate investment trust. The Trust’s business consists of the ownership of income-producing real estate properties principally in the Greater Washington-Baltimore Region. The Trust has a fundamental strategy of regional focus, diversified property type ownership and conservative financial management. “

Separately, Robert W. Baird lowered Washington Real Estate Investment Trust from an outperform rating to a neutral rating and increased their price objective for the company from $32.00 to $35.00 in a report on Wednesday, August 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $32.75.

Washington Real Estate Investment Trust (NYSE:WRE) traded down 0.765% during midday trading on Thursday, hitting $29.175. The company had a trading volume of 182,494 shares. Washington Real Estate Investment Trust has a one year low of $23.89 and a one year high of $34.61. The company has a market cap of $2.15 billion, a P/E ratio of 20.839 and a beta of 0.80. The company’s 50 day moving average is $31.52 and its 200-day moving average is $30.81.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.04. The business had revenue of $79.41 million for the quarter, compared to analyst estimates of $77.74 million. Washington Real Estate Investment Trust had a return on equity of 11.37% and a net margin of 30.90%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, equities analysts predict that Washington Real Estate Investment Trust will post $1.76 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Tuesday, September 13th. Washington Real Estate Investment Trust’s payout ratio is 86.33%.

Several institutional investors have recently bought and sold shares of WRE. BlackRock Inc. increased its position in Washington Real Estate Investment Trust by 7.7% in the first quarter. BlackRock Inc. now owns 66,318 shares of the real estate investment trust’s stock valued at $1,937,000 after buying an additional 4,729 shares during the last quarter. BlackRock Group LTD increased its position in Washington Real Estate Investment Trust by 2.7% in the first quarter. BlackRock Group LTD now owns 479,964 shares of the real estate investment trust’s stock valued at $14,021,000 after buying an additional 12,507 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Washington Real Estate Investment Trust by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,626,986 shares of the real estate investment trust’s stock worth $76,734,000 after buying an additional 38,976 shares in the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of Washington Real Estate Investment Trust by 0.9% in the first quarter. BlackRock Japan Co. Ltd now owns 3,608 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 33 shares in the last quarter. Finally, Kempen Capital Management N.V. increased its stake in shares of Washington Real Estate Investment Trust by 18.9% in the first quarter. Kempen Capital Management N.V. now owns 34,595 shares of the real estate investment trust’s stock worth $1,011,000 after buying an additional 5,501 shares in the last quarter. 84.11% of the stock is currently owned by institutional investors.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust is a self-administered, self-managed equity real estate investment trust. The Company’s business consists of the ownership and operation of income-producing real property in the greater Washington metro region. The Company’s three segments include office, retail and multifamily.

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